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In a release dated October 22, the company stated:
Quarter ended September 30:
- Net Sales, $488 million
- Net income, $10.9 million
- Diluted EPS, $0.41 per share
"We are pleased that our sales results exceeded our expectations," said Mike Baur, CEO, ScanSource. "We believe that our business units gained market share across all geographies."
- For the quarter ended September 30, net sales decreased 9.5 percent to $488 million compared to $540 million for the quarter ended September 30, 2008. Quarterly operating income also decreased 14.3 percent to $17.7 million from $20.6 million for the comparable prior year quarter. Net income decreased 12.0 percent to $10.9 million for the quarter ended September 30, versus $12.4 million for the quarter ended September 30, 2008. The effective tax rate for the quarter was 37.4 percent, compared to 38.2 percent for the prior year quarter. Diluted earnings per share decreased 12.8 percent to $0.41 compared to $0.47 in the prior year quarter.
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